Legal Review
Updated: Feb 10, 2022
Preparation is crucial when selling a business
A large proportion of failed exit attempts incur expensive advisor fees and onerous contractual obligations only to find business structure or liabilities prevent or delay an immediate sale. A high level legal review can help identify potential obstacles and deal breakers before you commit to expensive advisor fees, allowing time to prepare your business for a successful transaction.
A legal review helps anticipate potential liabilities and impediments which could prevent a transaction
Legal preparedness helps prevent unnecessary delays with your transaction, streamlining due diligence, maintaining momentum and reassurance for the buyer
A legal review helps get your company in good shape for a transaction, alleviating pressure from the vendors during the intensive due diligence phase. This enables the vendors to concentrate on the business, maintaining financial performance avoiding last minute price reduction.
Other considerations:
If not already actioned, it’s important to seek specialist tax advice, ensuring that all aspects of a future transaction tax compliant.
Financial due diligence requires a high degree of financial reporting and transparency. A financial review highlights information required for financial due diligence and flags issues that could delay a transaction. A financial revue will highlight any necessary historical and forecasted financial information required for your Information Memorandum, prospect meetings, due diligence and adjustments at completion.
When you mandate exitbydesign to sell your business, we begin with high level legal and financial reviews which anticipate potential impediments, preparing your business for a smooth transition to new ownership. We work with you to solve any issues and our fees can be paused should you need more time.
Call us on 01384 274 778 / 075 888 925 88 to discuss or go ahead and book a free consultation to discuss your options.